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30k-Plus Individual Investment Accounts at MOEX

02.07.2015 12:00 / TASS

In 1H 2015, Moscow Exchange opened 32 460 Individual Investment Accounts (IIAs) for private individuals in brokerages and asset management companies, says MOEX release.

MOEX states that most accounts in June were opened by clients of Sberbank, Otkrytie, Finam, BKS and Aton.

NAUFOR estimates that in 5 years, IIAs could be worth over RUB 1 trillion.

According to Russian law, from 1 January 2015, private individuals can open an Individual Investment Account with a broker or asset management company. IIAs are subject to investment tax benefits. Maximum IIA deposit is RUB 400k per annum. The money can be invested in stock market instruments, such as shares, sovereign and corporate bonds, including Eurobonds, stock exchange funds and share investment funds.

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